Google overtaking Apple would have driven Steve Jobs crazy: He was obsessed with Apple’s market value

“While watching Google’s market value surpass Apple’s in after-market trading last night—ending Apple’s on-and-off reign as the world’s most valuable company—I couldn’t help thinking about Steve Jobs, and how much this moment would have pained him,” Philip Elmer-DeWitt writes for Fortune.

“Market capitalization—calculated by multiplying share price by the number of shares outstanding—is just one measure of a company’s value, and one that often says more about short-term sentiment on Wall Street than a company’s long-term prospects,” P.E.D. reports. “But Steve Jobs was reportedly obsessed with his market cap.”

P.E.D. reports, “The story comes from Bruce Upbin, who runs Forbes Media’s 140-person technology team.”

Read more in the full article here.

MacDailyNews Take: Again, if this is what it takes to kick some asses into gear at Apple and sharpen the focus, including shipping products with the finished quality that we expect and demand, this little demotion is very welcome indeed.

That said, we all know which company is really the most valuable on earth and it certainly isn’t Alphabet.

Apple vs. Alphabet revenue (2008-2015) (in billion U.S. dollars)
Revenue comparison of Apple and Google from 2008 to 2015 (in billion U.S. dollars)

Apple vs. Alphabet net income (2008-2015)

Apple vs. Alphabet net income (2008-2015)
Source: Wolfram Alpha

SEE ALSO:
Go figure: Google’s ‘more valuable’ than Apple, but Apple’s iPhone takes 94% of smartphone industry’s profits – February 2, 2016
Apple’s iPhone can soon reap 100 percent of world’s smartphone profits – November 17, 2015
Apple’s iPhone owns 94% of smartphone industry’s profits – November 16, 2015
Open letter to Tim Cook: Apple needs to do better – January 5, 2015

34 Comments

  1. Carl Icahn and the investors rushing to Google right now are manipulators. In fact, ALL of them know that ALL this investment is going to go right back into Apple when the iPhone 7 is announced, assuming it has some easily – understood innovations to it. These market manipulators are excellent at creating value on nothing other than shrewd moves and trades. Do they REALLY think Alphabet is the most valuable company in the world? Of course not. But somebody got a momentum going, the shrokers jumped on board and bing, bang, boom, they made some money. Apple’s weakness next quarter is about their inability and lack of agility in managing currency fluctuations. But lots of companies are getting hard hit by a dollar that is too strong. When the dollar is at $1.22 per Euro, LIFE IS GRAND around the world. So the dollar needs to come down, Apple has to get a little leaner and meaner and we need a new life-changer.

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